USO, INDO, BATL Stocks Rise Premarket As Trump Warning Jolts Oil — Goldman Says $115 Scenario Is Back On Table

• USO gained 2%, INDO rose 1%, BATL added 3% and EONR climbed 5%, while TPET was the sole decliner, falling 4%.
• WTI crude rose 3.2% to $97 per barrel and Brent gained 3.5% to $98 as shipping uncertainty returned to focus.
• Goldman Sachs lowered its near-term crude outlook, forecasting Brent at $90 and WTI at $87 for the current quarter.

Major oil stocks and index funds climbed in premarket trading on Thursday as tensions around the Strait of Hormuz resurfaced, putting the U.S.-Iran ceasefire under pressure.

The United States Oil Fund rose 2% in premarket trading, while Indonesia Energy gained 1%, Battalion Oil added 3% and EON Resources climbed 5%. Trio Petroleum was the lone laggard, falling 4%.

Trump Warning Raises Stakes For Strait Of Hormuz 

Oil markets remained cautious after renewed military activity in the region and conflicting signals about tanker movement through the Strait of Hormuz.

West Texas Intermediate (WTI) crude rose about 3.2% to $97 per barrel, while Brent crude gained 3.5% to $98.

U.S. President Donald Trump said on Truth Social that “All U.S. Ships, Aircraft, and Military Personnel … will remain in place in, and around, Iran, until such time as the REAL AGREEMENT reached is fully complied with,” warning that if it is not, “the ‘Shootin’ Starts,’ bigger, and better, and stronger than anyone has ever seen before.” 

Iran’s semi-official Fars news agency reported tanker traffic through the waterway had been halted following Israeli strikes in Lebanon, though U.S. Vice President JD Vance said there were signs the strait was beginning to reopen. 

Two fully laden Chinese oil tankers were approaching the passage Thursday and could become among the first vessels to transit since the ceasefire announcement, although traffic remains limited. Meanwhile, the White House confirmed direct U.S.-Iran talks are scheduled for Saturday in Islamabad. 

Goldman Sachs Cuts Near-Term Oil Price Forecast

Goldman Sachs adjusted its near-term crude outlook following the ceasefire announcement, citing reduced geopolitical risk premiums and tentative signs of improving oil flows through the Strait of Hormuz.

The bank now expects Brent crude to average $90 per barrel in the current quarter and WTI to average $87. Forecasts for the third quarter remained unchanged at $82 for Brent and $77 for WTI, while fourth-quarter estimates stand at $80 for Brent and $75 for WTI.

However, Goldman said a renewed disruption scenario involving 2 million barrels per day of supply losses later this year could lift Brent prices toward $115 per barrel.

Oil Supply Recovery Likely To Be Partial

Analysts also cautioned that even with diplomatic progress, supply conditions are unlikely to normalize quickly.

“The conditional two-week ceasefire is already showing signs of faltering,” analysts at Kpler said, adding that structural supply challenges remain unresolved despite a temporary easing in logistics pressure.

ANZ Research said only a partial recovery in oil supply is likely in the near term due to infrastructure damage, export bottlenecks and financing constraints across parts of the Middle East energy system. They warned that if output recovery stalls, crude prices could remain above $100 per barrel, increasing the risk of inventory drawdowns and tighter supply beyond 2026.

How Do Retail Traders Feel About Energy Stocks?

On Stocktwits, retail sentiment on USO and INDO was ‘extremely bearish’, with message volume ‘high’ for USO and ‘low’ for INDO. Sentiment on TPET was ‘bearish’ with ‘low’ message volume, while BATL stood out as ‘bullish’ amid ‘high’ message volume. Retail sentiment on EONR remained ‘extremely bearish’ with ‘extremely low’ message volume.

Over the past year, BATL led gains with a 175% surge, followed by USO rising 97%, EONR advancing 64%, and INDO climbing 46%, while TPET was the lone decliner, falling 55% over the same period.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read Next: SLS Stock Rises Premarket Ahead Of Cancer Summit This Month – Investors Eye Phase 3 AML Trial Milestone